VTB Bank, Russia's second-largest financial institution by assets, has announced its intention to launch direct cryptocurrency trading services for its clients through brokerage accounts by 2026. This marks a significant institutional expansion into Russia's digital asset market, pending the finalization of a new regulatory framework expected in the coming months.
The plan was detailed by Andrey Yatskov, head of VTB's brokerage services arm, during the "Russia Calling!" investment forum in Moscow. He stated that while VTB currently offers clients crypto derivatives, the bank aims to provide direct exposure to digital assets like Bitcoin. "Real cryptocurrency will be available for purchase through brokerage accounts," Yatskov explained, adding, "We certainly see ourselves there and I believe it will be beneficial as the infrastructure is already in place and there is a large number of clients."
The move follows a notable shift in stance from Russian financial authorities. The Central Bank of Russia (CBR), which previously opposed crypto, is now collaborating with the Ministry of Finance to develop regulations to expand investor access beyond the current restrictive experimental legal regime (ELR). Currently, only "highly qualified" investors meeting stringent financial thresholds (approx. $1.2M in investments and $600K annual income) can participate indirectly within the ELR.
VTB anticipates that the upcoming regulations will establish a licensing regime for crypto brokers and depository services, increasing market transparency. Artyom Markin, an investment advisor at VTB, expressed bullish sentiment, referencing Bitcoin's recent price surge above $125,000 and stating, "the growth potential is far from being depleted." The bank's entry is expected to boost institutional trust and market stability, integrating crypto more deeply into Russia's financial infrastructure for both retail and corporate clients.
